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The long-term market conditions for contracting operations, property development and industrial operations in the Nordic region are positive. There are plans for large industrial investments in parts of Sweden. There is an underlying demand for public buildings, such as schools, hospitals and retirement homes, and for residential units, driven by growth and development in the metropolitan regions and in other growth regions. This is also driving initiatives for infrastructure in city areas, including roads, public transport, water and wastewater, and energy solutions. In general, the market for renovation and refurbishment is also healthy.

The countries in which NCC has infrastructure operations have ambitious and comprehensive infrastructure plans for long-term public investments in new construction, as well as refurbishment and maintenance of national and regional infrastructure. Demand for asphalt and stone materials is driven by investments in infrastructure and maintenance.

In the main, NCC is impacted by the general economic situation and the GDP trend. Cost increases and rising interest rates could have a dampening effect on the market. The effects in the second quarter were more noticeable, with rising prices. In the longer term, higher prices could lead to lower demand. To date, however, NCC has been unable to observe any material effects on the Group as a whole, but we note increased uncertainty and a slight decrease in interest in new property investments.